February 6, 2012
ISLAMABAD: Indian Commerce Minister Anand Sharma will visit Pakistan from February 13, said Pak-India Business Council (PIBC) Chairman Noor Muhammad Qasuri on Monday.
During meeting with Federal Commerce Minister Amin Fahim he discussed matters relating to trade normalisation process with India. Qasuri apprised the minister about the arrangements of conference between the stakeholders of the two countries on the occasion of Indian Commerce Minister’s visit. He appreciated the efforts of the government in boosting trade relations with the neighboring country.
Money
February 6, 2012
KARACHI: A debt-swap deal with a size of Rs 136 to Rs 138 billion is likely to be finalised within a day or two to provide a balance sheet relief to IPPs and OMCs ahead of second quarter.
According to stock market sources on Monday, the total size of the swap has been slashed from Rs 144 billion to Rs 136-138 billion while a few changes in the initial proposed terms/structure are also in the offing.
Research analyst KASB Securities, Fawad Khan said previously SPV (power holding company) was to be owned by PEPCO, but now the government might change the structure.
Money
February 6, 2012
HYDERABAD: Indonesia is rice-consuming country, so Pakistan can export rice to Indonesia. The Consul General, Rossalis R Adenan at Hyderabad Chamber of Commerce and Industry (HCCI) said the economy of Indonesia was improving gradually.
Money
February 6, 2012
MUMBAI: Indian shares rose for the fifth straight session on Monday, ending 0.58 percent higher, after last week’s robust US jobs data helped improve risk appetite, but the rally in the local market is expected to take a breather soon.
The main 30-share BSE index closed up 102.35 points at 17,707.31, with 21 of its components advancing.
The benchmark has gained nearly 15 percent this year, with foreign funds pouring more than $3 billion into Indian equities. In 2011, the index fell a quarter as foreign portfolio investors pulled out a net $500 million.
Money
February 6, 2012
KARACHI: The dollar rose against the rupee in the interbank market, dealers said Monday. It initiated the day’s trading at Rs 90.37 for buying, gained 15 paisas and closed at Rs 90.52 for buying and Rs 90.57 for selling. The euro depreciated against local currency as it began the day’s trading at Rs 118.82 for buying, lost 77 paisas and closed at Rs 118.05 for buying and Rs 118.25 for selling. The British currency fell against the rupee as it started the day’s trading at Rs 143.04 for buying, declined 61 paisas and closed at Rs 142.43 for buying and Rs 142.63 for selling.
Money
February 6, 2012
LONDON: The International Energy Agency may reduce its world oil demand forecast for 2012 this week due to a weaker outlook for the world economy, even though some evidence points to stronger consumption in the latter part of the year.
All three of the most closely watched monthly oil forecasts - from the U.S. government’s Energy Information Administration, the IEA and producer group the Organisation of the Petroleum Exporting Countries (OPEC) - are due for release this week.
Money
February 6, 2012
JAKARTA: Indonesia’s economy expanded 6.5 percent in the fourth quarter to seal the highest full-year growth in 15 years, a rare case of strength in Asia in the face of Europe’s debt crisis that suggests the central bank will keep rates steady this week.
While other Asian economies, including emerging giants such as China and India, have seen growth slow sharply in the past year as exports felt the euro debt chill, Indonesia has maintained growth above 6 percent for five straight quarters.
Money
February 6, 2012
ATHENS:Greek political leaders face crunch talks on Tuesday to hammer out a deal on unpopular reforms that have prompted the country's biggest labor unions to walk off the job.
Failure to strike a deal to secure the 130-billion-euro ($170 billion) rescue risks pushing Athens into a chaotic debt default which could threaten its future in the euro zone.
Money
